Highland Capital Management LLC increased its position in United Parcel Service, Inc. (NYSE:UPS – Free Report) by 335.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,812 shares of the transportation company’s stock after buying an additional 25,279 shares during the quarter. Highland Capital Management LLC’s holdings in United Parcel Service were worth $5,882,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also made changes to their positions in the company. Pacific Center for Financial Services purchased a new position in United Parcel Service in the first quarter valued at about $25,000. Worth Asset Management LLC purchased a new position in United Parcel Service in the first quarter valued at about $27,000. Carolina Wealth Advisors LLC raised its position in United Parcel Service by 216.0% in the second quarter. Carolina Wealth Advisors LLC now owns 158 shares of the transportation company’s stock valued at $28,000 after purchasing an additional 108 shares during the period. Centerpoint Advisors LLC raised its position in United Parcel Service by 205.0% in the first quarter. Centerpoint Advisors LLC now owns 183 shares of the transportation company’s stock valued at $36,000 after purchasing an additional 123 shares during the period. Finally, Syverson Strege & Co increased its position in shares of United Parcel Service by 252.5% during the first quarter. Syverson Strege & Co now owns 215 shares of the transportation company’s stock worth $42,000 after acquiring an additional 154 shares during the last quarter. 58.45% of the stock is owned by hedge funds and other institutional investors.
In other United Parcel Service news, insider Nando Cesarone sold 22,825 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $171.70, for a total transaction of $3,919,052.50. Following the sale, the insider now directly owns 1 shares of the company’s stock, valued at approximately $171.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.12% of the company’s stock.
United Parcel Service Price Performance
United Parcel Service (NYSE:UPS – Get Free Report) last released its earnings results on Thursday, October 26th. The transportation company reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.53 by $0.04. United Parcel Service had a return on equity of 43.46% and a net margin of 9.19%. The firm had revenue of $21.06 billion during the quarter, compared to the consensus estimate of $21.40 billion. During the same period in the prior year, the firm posted $2.99 earnings per share. The firm’s revenue for the quarter was down 12.8% compared to the same quarter last year. As a group, equities analysts anticipate that United Parcel Service, Inc. will post 8.82 EPS for the current fiscal year.
United Parcel Service Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Monday, November 13th will be given a dividend of $1.62 per share. The ex-dividend date is Friday, November 10th. This represents a $6.48 dividend on an annualized basis and a dividend yield of 4.69%. United Parcel Service’s dividend payout ratio (DPR) is presently 65.59%.
Analysts Set New Price Targets
Several research analysts recently commented on UPS shares. TheStreet cut United Parcel Service from a “b-” rating to a “c” rating in a research note on Thursday, October 26th. Loop Capital cut United Parcel Service from a “buy” rating to a “hold” rating and cut their price target for the stock from $210.00 to $195.00 in a research note on Wednesday, August 9th. JPMorgan Chase & Co. lowered their price objective on United Parcel Service from $186.00 to $178.00 and set a “neutral” rating for the company in a report on Wednesday, October 11th. TD Cowen lowered their price objective on United Parcel Service from $190.00 to $185.00 and set a “market perform” rating for the company in a report on Thursday, September 14th. Finally, BMO Capital Markets boosted their price objective on United Parcel Service from $180.00 to $190.00 and gave the company a “market perform” rating in a report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $188.91.
About United Parcel Service
United Parcel Service, Inc, a package delivery company, provides transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance services. It operates through two segments, U.S. Domestic Package and International Package. The U.S. Domestic Package segment offers time-definite delivery of letters, documents, small packages, and palletized freight through air and ground services in the United States.
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